Local Government Finance Settlement 2013-14

Part of the debate – in the Scottish Parliament on 27th November 2012.

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Photo of John Swinney John Swinney Scottish National Party

Guidance is in place on local government investment strategies as part of councils’ treasury function. Individual local authorities must make appropriate judgments about the destination of any investments that they make. They must take into account factors of risk and return. However, that is fundamentally a matter for each local authority to determine.

The Accounts Commission will, of course, be actively involved in scrutinising those issues in relation to local authorities’ financial performance, so the independent scrutiny that Mr Brodie requested is part of the existing arrangements.